day rupiah
Cummulative_Cash_Waqf_Fund 1
Control_Function 2
5.000 10.000
15.000 5e14
1e15
1 2 1 2
Figure 3c The Simulation Result long term
day gold standard kg
Convert_to_gold 1
Total_cash_waqf_in_gold 2
5.000 15.000
5.000.000 10.000.000
1 2 1
2
Figure 3d The Simulation Result long term
da rupiah
Control_Function 1
Cummulative_Cash 2
20 40 60 80 100 1e9
2e9 3e9
4e9 5e9
1 2
1 2
1 2
1 2
1 2
da gold
s tandard
kg
Total_cash_waq d
1 Convert_to_gol
2 20 40 60 80100
10 20
30 40
50
1 2
1 2
1 2
1 2
1 2
Figure 3e. The Simulation Result short term if any of mismanagements or dishonesty occur
day ru
p ia
h
Control_Function 1
Cummulative_Cash_Waqf_ Fund
2 2.000
6.000 10.000 2e13
4e13 6e13
1 2 1 2 1 2 1
2
day g
ol d s
tandar d
k g
Total_cash_waqf_in_gold 1
Convert_to_gold 2
2.000 10.000
300.000 600.000
1 2 1 2
1 2 1
2
Figure 3f. The Simulation Result long term if any of mismanagements or dishonesty occur
8. The Potency of Cash Waqf for the
Poverty Alleviation Programs It can be concluded from the system that
the larger the amount of cash waqf collected, the larger the amount of fund can be invested in
highly cost-effective profit sharing-based portfolios, and the larger the amount of return can
be distributed to poor people. The more fund allocated to finance microbusiness, the sooner
poverty in Indonesia can be alleviated. see Figure 4a.
The waqif and public can control or monitor the cash flow of cash waqf investment. If
mismanagement and dishonesty occurred, the
simulation result could demonstrate the deviation. see figure 3e-f
The Potency of Cash Waqf for The Poverty Alleviation
Pra_welfare_people aleviation
welfare the_rich
birth_rate2
birth_rate death_rate2
Birth_rate3 death_rate3
Indonesian_population death_rate
Profit_of_Cash_Waqf_Investment Daily_needs
Multiplier_Effects the_poor
Multiplier_effect Invest_to_microfinance
Average_of_Microfinacing Profits_of_CW_Investment_
the_poor alleviation_1
Average_Period_to_become_prawelfare
The_poor_decrease The_poor_reducing
Microcredit_for_a_poo lifetime_expectancy
Population_growth the_welfare_increase
Pra_welfare_reducing Average_period_to_become_welfare
Average_of_Microfinacing
Figure 4b Causal Diagram of The Potency of Cash Waqf Simulation using Powersim
Profits of Cash Waqf Investment Distribution
Enter_to_pra_welfare Profit_of_Microfinance
Living_needs Healthy_needs
Education_needs Rehabilitation_needs
Infrastructure_needs Disaster_needs
Education_cost Family_Rehbiittion_Cost
Natural_Disaster_Cost Infstructure_Cost
Cost_1 Cost_2
Cost_4 Cost_5
Cost_6 Needs_ratio_4
Needs__ratio_5
Needs_ratio_6 needs_rate_1
needs_rate_2 needs_rate_3
needs_rate_4 needs_rate_5
needs_rate_6 allocation_ratio_2
allocation_ratio_3 allocation_ratio_4
allocation_ratio_5
allocation_rate_6 available_fund_for_living
available_fund_for_healthy available_fund_for_education
available_fund_for_rehbltation available_fund_for_disaster
available_fund_for_infrastrctr available_rate_1
available_rate_2 available_rate_3
available_rate_4 available_rate_5
available_rate_6 poor
Living_cost Healthy_cost
Needs_ratio_1 Needs__ratio_2
Needs_ratio_3
Enter_to_pra_welfare Profit_of_Cash_Waqf_Investmen
Cost_3 ment
Profit_of_Cash_Waqf_Investment
Profit_of_Cash_Waqf_Investment Inflation
Inflation Enter_to_pra_welfare
Healthy_cost Infstructure_Cost
Living_cost Natural_Disaster_Cost
Daily_needs Education_cost
Family_Rehbiittion_Cost Total_available_fund_for_poor
Profit_of_Glb_Fund_Mgt Profit_of_Islamic_Finance
Profit_of_Direct_Investment
Pra_welfare_people the_poor
allocation_ratio_1
Figure 4b Causal Diagram of Simulation using Powersim
9. The Simulation Result
Since there has been no similar study preceding the research, some assumption were
applied. The ability of five national TV corporations RCTI, SCTV, Indosiar, MetroTV
and Lativi to collect donation amounting 3 billions Rp in two night in 2003 was used as an
6
assumption basis of amount of fund could be gathered by cash waqf management institution.
It was then assumed that the cash waqf institution could obtain 20 millions Rupiah a day
in form of cash waqf from various components of Indonesian people. The study also assumed that
the gathered fund would grow 25 annually and it would be invested in Islamic financial products
with profit sharing- based various rate of return.
Using the above assumption and data supplied by Biro Pusat Statistik National
Beaurau for Statistics, BKKBN National Coordinating Agency for Family Planning and
syariah financial institution in Indonesia, the computer-based data process resulted. Such an
amount of fund is expected to be available for the poverty alleviation efforts in Indonesia, especially
through microfinance distribution program. If this plan can be implemented smoothly and if those
assisted micro enterprises can get well run maximum of 8 years after being financed, it will
take approximately 12500 days 35 years to eliminate poverty and 22400 days 63 years to
increase quality of live for Indonesian population. see figure 5a-b Poor people, in this study, are
those with very low quality of life. In other words, poor people are not only those who cannot feed
once a day, but also those who cannot afford proper health and education services.
Time
the_poor 1
the_poor 2
Pra_welfare_people 3
Pra_welfare_people 4
the_rich 5
the_rich 6
Indonesian_populatio 7
Indonesian_populatio 8
5,000 10,000
15,000 20,000
25,000 30,000
50,000,000 100,000,000
150,000,000 200,000,000
1 2 3 4
5 6 7 8
1 2 3 4
5 6 7 8
1 2 3 4
5 6 7 8
1 2 3
4 5
6 7 8
1 2 3 4
5 6
7 8
Figure 6a. Simulation Result based on Rp 50 million in a day compare with Rp 20 million in a day
10. Conclusions